I suspect that will be the model. We'll get a better deal than Norway though. As part of the deal we'll get to keep a schengen optout though (as will Ireland), we'll keep Le Touquet, and we might get some opt out along the lines of "the UK won't have to extend free movement to new EU states for the next X years".
I think this would be the best outcome for everyone. Boris, by the way, has ruled it out, but this is a referendum not an election so that doesn't really matter.
Both sides would need to be able to present a deal as a victory, and the Norwegian model allows this. The EU will be the actual winner by any logical analysis (although everyone is really a loser in this sad game), but even though it's stupid, the Norwegian model seems to appeal to a certain type of not-too-worried-about-the-facts nationalist and maybe it will satisfy the British side too.
The danger is that the UK rejects this model and decides to sail off into the mid-Atlantic. Then we really are all *****ed.
The fact we have a better-than-this deal already is irrelevant.
Indeed. But neither the leave campaign, nor patriotism, nor the Norwegian model are about logic or facts, which is why they go together quite well.
(To be clear, my preferences are:
1. Remain in the EU.
2. Norwegian model or similar.
3. Something else.
1 is much much better than 2, but 2 is much much better than 3.)